Huate Gas(SH:688268)2024-10-29 11:17Key Content Highlights This report provides key information from Guangdong Huate Gas Co., Ltd.'s Q3 2024 report, including management assurances, unaudited financial statements, and major financial data with explanations for changes - The company's Q3 financial statements are unaudited2 I. Major Financial Data This chapter details the company's key accounting data and financial indicators for Q3 and YTD Q3, discloses non-recurring gains and losses, and explains significant changes in net cash flow from operating activities (I) Major Accounting Data and Financial Indicators | Item | Current Period (Q3 2024) (RMB) | YoY Change (%) (Current Period) | YTD (Q3 2024) (RMB) | YoY Change (%) (YTD) | | :--- | :--- | :--- | :--- | :--- | | Operating Revenue | 340,509,765.81 | -12.39 | 1,058,494,332.72 | -6.26 | | Net Profit Attributable to Shareholders of Listed Company | 36,523,551.86 | -22.29 | 132,673,354.42 | 9.09 | | Net Profit Attributable to Shareholders of Listed Company (Excluding Non-Recurring Items) | 36,765,326.75 | -16.66 | 128,687,363.01 | 14.16 | | Net Cash Flow from Operating Activities | Not applicable | Not applicable | 215,031,032.30 | 110.55 | | Basic EPS (RMB/share) | 0.31 | -20.51 | 1.11 | 9.90 | | Diluted EPS (RMB/share) | 0.31 | -20.51 | 1.11 | 9.90 | | Weighted Average ROE (%) | 1.92 | Decrease by 0.69 percentage points | 6.91 | Decrease by 0.37 percentage points | | Total R&D Investment | 11,956,915.23 | -5.75 | 35,748,754.27 | -0.53 | | R&D Investment as % of Operating Revenue | 3.51 | Increase by 0.25 percentage points | 3.38 | Increase by 0.20 percentage points | | Total Assets (End of Current Period) | 3,236,317,859.83 | 2.34 (vs. End of Previous Year) | | | | Total Equity Attributable to Shareholders of Listed Company (End of Current Period) | 1,901,464,842.63 | 4.20 (vs. End of Previous Year) | | | (II) Non-Recurring Gains and Losses Items and Amounts | Non-Recurring Gains and Losses Item | Current Period Amount (Q3 2024) (RMB) | YTD Amount (Q3 2024) (RMB) | Notes | | :--- | :--- | :--- | :--- | | Gains/Losses from Disposal of Non-Current Assets | 478,082.21 | 1,453,482.04 | | | Government Subsidies Included in Current Period P&L | 528,356.63 | 2,372,089.22 | | | Gains/Losses from Fair Value Changes of Financial Assets and Liabilities Held by Non-Financial Enterprises, and from Disposal of Financial Assets and Liabilities | -649,485.18 | 822,774.99 | | | Other Non-Operating Income and Expenses | -603,032.59 | 429,185.33 | | | Less: Income Tax Impact | 8,987.16 | 1,082,087.32 | | | Minority Interest Impact (After Tax) | -13,291.20 | 9,452.85 | | | Total | -241,774.89 | 3,985,991.41 | | (III) Changes and Reasons for Major Accounting Data and Financial Indicators - Net cash flow from operating activities increased by 110.55% year-over-year from the beginning of the year to the end of the reporting period, primarily due to the company optimizing raw material procurement, strengthening inventory management, and improving settlement methods, which reduced payments for raw material purchases5 II. Shareholder Information This chapter discloses the company's shareholder structure, including the total number of common shareholders, top ten shareholders' holdings, and related party relationships, identifying the actual controllers (I) Total Number of Common Shareholders and Top Ten Shareholders' Holdings - As of the end of the reporting period, the total number of common shareholders was 8,4866 | Shareholder Name | Shareholder Nature | Number of Shares Held (shares) | Shareholding Ratio (%) | Number of Restricted Shares Held | | :--- | :--- | :--- | :--- | :--- | | Guangdong Huate Investment Management Co., Ltd. | Domestic Non-State-Owned Legal Person | 26,640,700 | 22.13 | 0 | | Xiamen Huahong Duofu Investment Partnership (Limited Partnership) | Other | 12,407,600 | 10.31 | 0 | | Shi Pingxiang | Domestic Natural Person | 11,855,345 | 9.85 | 0 | | Xiamen Huahe Duofu Investment Partnership (Limited Partnership) | Other | 6,381,900 | 5.30 | 0 | | Zhang Suihua | Overseas Natural Person | 6,039,400 | 5.02 | 0 | | Shi Sihui | Domestic Natural Person | 5,400,000 | 4.49 | 0 | | Xiamen Huajin Duofu Investment Partnership (Limited Partnership) | Other | 4,023,100 | 3.34 | 0 | | Zhang Suiping | Domestic Natural Person | 1,951,496 | 1.62 | 0 | | Hong Kong Securities Clearing Company Limited | Overseas Legal Person | 1,541,674 | 1.28 | 0 | | China Merchants Bank Co., Ltd. - Huisheng Huize Flexible Allocation Mixed Initiated Securities Investment Fund | Domestic Non-State-Owned Legal Person | 1,349,468 | 1.12 | 0 | Top 10 Shareholders with Unrestricted Shares | Shareholder Name | Number of Unrestricted Tradable Shares Held | Share Type | Quantity | | :--- | :--- | :--- | :--- | | Guangdong Huate Investment Management Co., Ltd. | 26,640,700 | RMB Common Stock | 26,640,700 | | Xiamen Huahong Duofu Investment Partnership (Limited Partnership) | 12,407,600 | RMB Common Stock | 12,407,600 | | Shi Pingxiang | 11,855,345 | RMB Common Stock | 11,855,345 | | Xiamen Huahe Duofu Investment Partnership (Limited Partnership) | 6,381,900 | RMB Common Stock | 6,381,900 | | Zhang Suihua | 6,039,400 | RMB Common Stock | 6,039,400 | | Shi Sihui | 5,400,000 | RMB Common Stock | 5,400,000 | | Xiamen Huajin Duofu Investment Partnership (Limited Partnership) | 4,023,100 | RMB Common Stock | 4,023,100 | | Zhang Suiping | 1,951,496 | RMB Common Stock | 1,951,496 | | Hong Kong Securities Clearing Company Limited | 1,541,674 | RMB Common Stock | 1,541,674 | | China Merchants Bank Co., Ltd. - Huisheng Huize Flexible Allocation Mixed Initiated Securities Investment Fund | 1,349,468 | RMB Common Stock | 1,349,468 | Explanation of Shareholder Related Party Relationships or Concerted Actions - Shi Pingxiang and Shi Sihui are father and daughter, and have signed a concerted action agreement, jointly acting as the company's actual controllers, holding a combined 34.07% of the company's shares directly and indirectly9 - Shi Pingxiang controls the voting rights of the company held by Huate Investment, and through it, Huahong Investment, Huahe Investment, and Huajin Investment, totaling 55.41% of the voting shares9 - Zhang Suihua and Zhang Suiping are siblings and are concerted actors9 III. Other Reminders This chapter states that, apart from the disclosed content, there is no other significant operational information requiring special attention from investors during the reporting period - No other significant operational information requiring investor attention during the reporting period11 IV. Quarterly Financial Statements This chapter provides the company's unaudited consolidated financial statements for Q3 2024, including the consolidated balance sheet, consolidated income statement, and consolidated cash flow statement (I) Type of Audit Opinion This section explicitly states that the company's Q3 2024 financial statements are unaudited - The company's quarterly financial statements are unaudited11 (II) Financial Statements This section includes the company's consolidated balance sheet as of September 30, 2024, and the consolidated income statement and consolidated cash flow statement for the first three quarters of 2024 Consolidated Balance Sheet | Item | September 30, 2024 (RMB) | December 31, 2023 (RMB) | | :--- | :--- | :--- | | Current Assets: | | | | Cash and Cash Equivalents | 769,531,356.74 | 871,763,900.65 | | Financial Assets Held for Trading | 83,193,652.51 | 67,382,772.04 | | Notes Receivable | 41,713,680.54 | 58,511,900.64 | | Accounts Receivable | 340,803,622.16 | 320,816,060.63 | | Inventories | 203,732,786.28 | 191,835,316.81 | | Total Current Assets | 1,670,172,676.59 | 1,722,110,118.16 | | Non-Current Assets: | | | | Fixed Assets | 589,770,170.71 | 546,110,500.61 | | Construction in Progress | 383,721,428.69 | 310,631,093.96 | | Intangible Assets | 74,088,887.93 | 68,188,185.31 | | Total Non-Current Assets | 1,566,145,183.24 | 1,440,230,165.28 | | Total Assets | 3,236,317,859.83 | 3,162,340,283.44 | | Current Liabilities: | | | | Notes Payable | 27,319,727.92 | 22,497,000.00 | | Accounts Payable | 70,734,664.07 | 72,143,788.60 | | Total Current Liabilities | 398,563,847.24 | 425,374,397.19 | | Non-Current Liabilities: | | | | Long-Term Borrowings | 223,719,986.05 | 232,924,700.00 | | Bonds Payable | 523,573,951.76 | 500,245,997.22 | | Total Non-Current Liabilities | 880,651,670.09 | 866,789,166.04 | | Total Liabilities | 1,279,215,517.33 | 1,292,163,563.23 | | Shareholders' Equity: | | | | Total Equity Attributable to Parent Company Shareholders | 1,901,464,842.63 | 1,824,886,291.57 | | Minority Interests | 55,637,499.87 | 45,290,428.64 | | Total Shareholders' Equity | 1,957,102,342.50 | 1,870,176,720.21 | Consolidated Income Statement | Item | YTD Q3 2024 (Jan-Sep) (RMB) | YTD Q3 2023 (Jan-Sep) (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Total Operating Revenue | 1,058,494,332.72 | 1,129,172,708.40 | -6.26 | | Total Operating Costs | 912,375,823.28 | 990,622,323.65 | -7.90 | | Operating Costs | 721,094,799.64 | 788,027,114.77 | -8.50 | | Selling Expenses | 70,416,244.87 | 70,563,056.14 | -0.21 | | Administrative Expenses | 61,401,583.97 | 71,190,988.60 | -13.75 | | R&D Expenses | 35,748,754.27 | 35,937,458.43 | -0.53 | | Financial Expenses | 18,094,934.02 | 17,894,227.81 | 1.12 | | Operating Profit | 159,715,533.43 | 145,112,841.43 | 10.06 | | Total Profit | 160,278,148.81 | 145,561,371.23 | 10.11 | | Net Profit | 132,602,984.08 | 122,277,387.47 | 8.45 | | Net Profit Attributable to Parent Company Shareholders | 132,673,354.42 | 121,616,037.13 | 9.09 | | Basic EPS (RMB/share) | 1.11 | 1.01 | 9.90 | | Diluted EPS (RMB/share) | 1.11 | 1.01 | 9.90 | Consolidated Cash Flow Statement | Item | YTD Q3 2024 (Jan-Sep) (RMB) | YTD Q3 2023 (Jan-Sep) (RMB) | Change (%) | | :--- | :--- | :--- | :--- | | Subtotal Cash Inflows from Operating Activities | 969,479,008.94 | 1,034,402,146.58 | -6.28 | | Subtotal Cash Outflows from Operating Activities | 754,447,976.64 | 932,272,201.20 | -19.10 | | Net Cash Flow from Operating Activities | 215,031,032.30 | 102,129,945.38 | 110.55 | | Subtotal Cash Inflows from Investing Activities | 726,182,237.47 | 394,304,883.47 | 84.16 | | Subtotal Cash Outflows from Investing Activities | 961,634,328.58 | 720,456,089.33 | 33.48 | | Net Cash Flow from Investing Activities | -235,452,091.11 | -326,151,205.86 | 27.79 (Decrease in Net Outflow) | | Subtotal Cash Inflows from Financing Activities | 36,826,320.00 | 954,193,435.69 | -96.14 | | Subtotal Cash Outflows from Financing Activities | 98,688,248.56 | 333,893,702.86 | -70.46 | | Net Cash Flow from Financing Activities | -61,861,928.56 | 620,299,732.83 | -109.97 (Turned into Net Outflow) | | Net Increase in Cash and Cash Equivalents | -84,332,819.72 | 398,275,051.79 | -121.17 (Turned into Net Decrease) |